SEC Proposes Rules to Tighten
Companies' Financial Control

WASHINGTON -- Federal securities regulators proposed new rules to strengthen corporate controls in the wake of financial scandals that have rocked U.S. markets.

Separately, Securities and Exchange Commission Chairman Harvey Pitt said the SEC was close to naming the five members of an accounting board to oversee and discipline auditors. He also said the commission expects to have the board in place by the Oct. 28 deadline established...